Re: Student Loan question/suggestions?
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P.S. Obviously one of my options is to invest the money which for me is the most likely place this will go (if i don't pay towards the loan) as a starter for retirement. But I didn't want this post to turn into a discussion/debate about investing vs. paying back loans so for this reason we will assume that I would only be getting the 5% from a savings at this point.
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If you rule out purchase of an auto or home in the near future and you don't plan on needing this cash for anything (you already have other funds as a safety net incase you get laid off, etc.), then you should pay back the loan as it's got a higher interest rate.
If you don't have any other cash around and you have the discipline not to spend the 15K it might sense to keep it on hand. Eventually you'll need to finance something and you'll always pay more than you'll be paying on your student loan.
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